Cambodia’s economy is forecasted to grow at 5.4 percent this year supported by the resumption of socio-economic activities and increasing demands in the global market.
The Ministry of Economy and Finance made the projection in an updated report released at a press conference organised by the Royal Government Spokesperson Unit here on Aug. 2.
“The economic growth in 2022 will be supported by ongoing better trend of external demand and the high rate of COVID-19 vaccination which enabled the country’s reopening, making domestic economic activities back to normal,” stated the report.
The growth rate is below 5.6 percent projected early this year due to impacts of Russia-Ukraine War such as increase in prices of all kinds of commodities, particularly oil and agricultural raw materials –fertiliser and pesticide, the Ministry of Economy and Finance stated.
The ministry added that the Royal Government of Cambodia continues to implement intervention measures, including the Cash Transfer Programme for the Poor and Vulnerable Households during COVID-19, Cash for Work programme and cash allowance payments for suspended workers, which have contributed to supporting the livelihood of the people, business activities and the overall economic growth.
Source: Agency Kampuchea Press